Australia's new PM says no plans for an early election

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The new Australian Prime Minister Scott Morrison and his deputy Josh Frydenberg hold a news conference in Canberra, Australia August 24, 2018. REUTERS/David Gray

SYDNEY (Reuters) - Australia’s incoming prime minister Scott Morrison hosed down speculation of an early election and said on Friday a severe drought across the country’s east will be his immediate priority.

“I don’t think anyone should be making any plans for an election any time soon,” Morrison, the former treasurer, told reporters in Canberra.

Energy minister Josh Frydenberg will be the new treasurer, Morrison announced after winning a Liberal party leadership vote earlier in the day.